Co-op Employee Benefits

NRECA provides employee benefits to over 170,000 individuals at more than 1,000 co-ops across America.

For more than 70 years, NRECA has helped co-op families invest in themselves and their futures by providing comprehensive and affordable employee benefit programs. We understand the needs of co-op employees and work hard to maintain strong and affordable benefit programs. NRECA offers the following group and retirement benefit plans and programs with services to support them:

President SIgns Co-op Pension Bill
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Plans

Representatives from NRECA work with participating co-ops to select the desired benefits package that will best suit the needs of their employees. NRECA recognizes that the needs of co-op employees vary, and the benefit plans listed below have varying levels of customization to ensure the needs of co-op employees are met. Additionally, a regional relationship manager is available to serve as the main point of contact for co-op staff. The relationship manager works with co-op representatives to provide details on the benefit plans and provide ongoing advice about benefits issues that impact co-ops and plan participants. Co-ops can choose from the retirement and group insurance plans as described below:

Group Benefit Plans

Business Travel Accident — Insures employees on co-op travel.

Dental — All dental plans cover 100 percent of preventive and diagnostic care but have different coverage levels for basic and major services and orthodontic services.

Disability — Co-ops can choose long-term and short-term plans to provide a financial safety net for their employees.

Life Insurance — Co-ops and co-op employees have purchased more than $1 billion in life insurance coverage for co-op employees and their families through NRECA benefit plans. Co-ops can offer their employees life insurance and Accidental Death and Dismemberment (AD&D) at fixed-dollar amounts or at one-to-five times salary.

Medical — NRECA offers a comprehensive array of medical plans. Co-ops can customize coverage by electing the deductible, coinsurance and out-of-pocket maximum. Preventive services are covered at 100 percent and are not subject to the annual deductible.

Retirement Benefits

401(k) — Co-ops can offer their employees pre- and post-tax savings opportunities through this plan and may also elect to offer a Roth 401(k) option. Co-ops can also elect a self-directed brokerage account option.

Defined Benefit — Co-ops can choose a defined benefit-based option for their employees. The co-op can customize the plan based on the level of benefit and the age or participation requirements for full benefits. Plan participants can choose from a wide variety of distribution options upon separation from service.

Deferred Compensation — Co-ops may sponsor and administer deferred compensation plans that allow highly-compensated employees or directors to defer a portion of their compensation. There are a variety of non-qualified plans available depending on the taxable status of the co-op.

For more information on any of these plans, please contact NRECA’s Member Contact Center at 866-673-2299 or contactcenter@nreca.coop.

Programs and Services

NRECA provides programs, services and publications that offer extensive resources to employees and co-ops. Relationship managers are available to help co-ops understand the benefit plans, provide assistance of the implementation and operation of selected benefits and provide ongoing advice about benefits issues that impact co-ops and plan participants.

Health Counseling — Health coaches provide comprehensive support for many health care and wellness decisions including tobacco cessation. Participants have free, confidential 24/7 access to a health coach. This program also includes outreach to participants with certain conditions.

Maternity Management — All expectant mothers receive many helpful resources including screenings for high-risk pregnancies and specialized case management for pregnancy complications. A registered maternity nurse provides support and educational materials during pregnancy, labor and delivery.

Online Account Access — Participants in the medical or retirement plans can access their benefit information online and perform account management transactions as well as receive additional education and information about their available benefit programs.

NRECA provides co-ops with a wealth of consultative resources, including relationship managers who provide benefit plan advice and guidance. Listed below is a brief summary of the resources to which co-op staff and employees have access.

Co-op Resources

Relationship Managers — Co-ops have access to an NRECA relationship manager who can provide details on the benefit plans and provide ongoing advice about benefits issues that impact co-ops and plan participants.

Consulting and Operations — NRECA provides administrative services, claims processing and a contact center for co-ops and benefit plan participants. Also, co-op staff members can consult with individuals at NRECA about benefit plan compliance, including preparation of reporting and disclosure communications and performing required minimum participation coverage and nondiscrimination testing. Co-ops can also obtain documents necessary to operate the plans.

Conferences and Education — Given the complex nature of benefits administration, NRECA provides co-op staff with multiple opportunities for professional development and networking, including access to NRECA staff and industry experts. Co-op staff can choose from onsite and online training opportunities to maximize their personalized learning experience.